Advertising

BTCS Management Invests $1.1 Million into Company

btcs management
votes
Article Rating
BTCS Management investments represent a significant financial commitment and their belief in the success of BTCS. BTCS is one of the first U.S. publicly traded companies focused on digital assets and blockchain technologies.

Silver Spring, MD – (Globe Newswire – January 7, 2021) – BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Company”), a digital asset and blockchain technology-focused company, today announced its management invested $1.1 million into the Company through a convertible preferred share offering. Charles Allen, the Company’s Chief Executive Officer invested $810K. The preferred shares are only convertible after two years.


“The strong foundation we have built and our unwavering commitment to the disruptive potential of digital assets over the last seven years has placed us in a great position to capitalize on the many opportunities ahead,” commented Michal Handerhan, COO of BTCS.


BTCS Management investments represent a significant financial commitment and their belief in the success of BTCS. BTCS is one of the first U.S. publicly traded companies focused on digital assets and blockchain technologies.

“Michal and I now have a serious financial investment in BTCS, providing a strong indication of our belief in the long-term potential of the Company,” commented Charles Allen, CEO of BTCS Management. “Our investment, which is effectively locked up for two years with resale severely limited thereafter, demonstrates that we are in this for the long haul and aligns our interests with those of our shareholders.”

READ more:  Ethereum network will be 100x faster in the coming weeks


The preferred stock is redeemable for $1,177,000 or 107%. The redemption feature allows for the return of invested capital if shareholders vote to reject management’s investment.  Because this is a related-party transaction, the Company will seek shareholder ratification of the issuance of the preferred shares.  
“Management does not currently own any equity in the Company,” commented Allen, “This investment changes that dynamic and ensures management has skin in the game to take the Company to the next level.”


The preferred shares have a conversion price of $0.17 and have anti-dilution protection as set forth in the Series C-2 Certificate of Designation. Further details of the preferred shares are disclosed in a Form 8-K filed with the SEC on January 6, 2021.

About BTCS: 

BTCS is one of the first U.S. publicly traded companies focused on digital assets and blockchain technologies.

BTCS Management plans to acquire additional Digital Assets to provide investors with indirect ownership of Digital Assets that are not securities, such as bitcoin and ether. BTCS intends to acquire Digital Assets through open market purchases.

READ more:  El Salvador bought its first 400 Bitcoins. More investments announced.

BTCS are not limiting their assets to a single type of Digital Asset and may purchase a variety of Digital Assets that appear to benefit their shareholders, subject to the limitations of the Investment Company Act of 1940.

BTCS is also internally developing a digital asset data analytics platform and seeking to acquire controlling interests in businesses in the blockchain industry. For more information visit: www.btcs.com

votes
Article Rating


Follow us on Facebook, Twitter, Instagram, and Telegram, and don’t miss any crypto news.


Disclaimer:

The information expressed in this article is solely those of the author and do not necessarily reflect the vies of CryptoDeFinance.  Each and every investment and trading move involves high risk. You should always conduct your own research when making a decision in crypto investment.
Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on tumblr
Share on telegram
Share on whatsapp

Bruno Marques

Hi! I am the CEO/Founder of Crypto DeFinance, and I am an Enthusiast crypto investor. I started this project so we can provide you with carefully curated news. If you like us and our news, share the posts and comment. Your visit and interaction is very important to us.
Subscribe
Notify of
guest
2 Comentários
Most Voted
Newest Oldest
Inline Feedbacks
View all comments

[…] you put $1,000 in BTC four years ago and you’ll be sitting on over 20x profits from your investment and that’s […]

[…] the total sale price and the amount of BTC, we see that they would have been sold at an average price of over $ 38,000. The report adds that […]

MORE NEWS

Yield Farming is one of the main innovations brought by decentralized finance (DeFi) to the cryptocurrency market. And, without a doubt, it was one of the reasons for the explosion of these projects in the year 2020. So if you want to know more about what is Yield Farming, read further.

So, you want to know a little more about what are Liquidity Pools and how they work in the Defi Market?! In a small resume, Liquidity pools are the foundation of automated revenue-generating platforms. There are probably many other uses for them that have not yet been discovered. Read further to learn more.

bitcoin
Bitcoin (BTC) $ 42,140.00
ethereum
Ethereum (ETH) $ 2,865.29
cardano
Cardano (ADA) $ 2.05
binance-coin
Binance Coin (BNB) $ 354.22
dogecoin
Dogecoin (DOGE) $ 0.206559
matic-network
Polygon (MATIC) $ 1.08
pancakeswap-token
PancakeSwap (CAKE) $ 18.35
2
0
Would love your thoughts, please comment.x
()
x
Don't Miss The Latest Crypto News! Subscribe Now